TotalEnergies and Sempra have signed a memorandum of understanding (MoU) to co-develop several onshore and offshore renewable projects.
The MoU outlines Sempra’s potential acquisition of 30% of TotalEnergies’ stake in an offshore wind project off the coast of California that will be auctioned in the near future.
It also outlines TotalEnergies’ potential acquisition of 30% of Sempra’s stake in certain onshore renewable projects under development along the Mexico-US border.
“In recent years, TotalEnergies has become the leading US LNG exporter and has assembled a portfolio of 4GW of solar projects and 3GW of offshore wind projects, currently under development in the United States,” said Patrick Pouyanne, chairman CEO of TotalEnergies.
“This new stage of our collaboration allows us to go even further in our ambition to offer our customers sustainable, affordable and reliable energy, in line with our transformation into a multi-energy company.”
The two companies have also signed a separate MoU regarding a liquified natural gas collaboration in the US.